Mutual of America Capital Management LLC Sells 1,227 Shares of Elme Communities (NYSE:ELME)

Mutual of America Capital Management LLC trimmed its stake in shares of Elme Communities (NYSE:ELME) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,238 shares of the company’s stock after selling 1,227 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Elme Communities were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Elme Communities by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,124,355 shares of the company’s stock worth $37,367,000 after purchasing an additional 20,555 shares during the period. Dimensional Fund Advisors LP grew its position in Elme Communities by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,259,876 shares of the company’s stock worth $20,069,000 after buying an additional 17,387 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Elme Communities by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock valued at $16,508,000 after acquiring an additional 69,014 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Elme Communities by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 811,421 shares of the company’s stock valued at $12,926,000 after acquiring an additional 11,802 shares during the last quarter. Finally, DigitalBridge Group Inc. purchased a new position in shares of Elme Communities during the second quarter worth about $8,132,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ELME shares. Wolfe Research started coverage on shares of Elme Communities in a report on Monday, October 21st. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. increased their target price on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company upped their price objective on Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th.

Elme Communities Price Performance

Shares of Elme Communities stock opened at $16.96 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55. Elme Communities has a 52-week low of $12.74 and a 52-week high of $18.49. The company has a fifty day moving average of $17.00 and a 200-day moving average of $16.61. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -112.99 and a beta of 0.89.

Elme Communities (NYSE:ELME) last released its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27). The company had revenue of $61.06 million during the quarter, compared to the consensus estimate of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. Equities research analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, December 19th. Elme Communities’s dividend payout ratio (DPR) is currently -479.97%.

About Elme Communities

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.